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2021-12-31-accounts

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW PECKHAM

REPORT AND FINANCIAL STATEMENT FOR THE YEAR ENDED 31[st] DECEMBER 2021

Charity Number: 1165288

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

FINANCIAL STATEMENT FOR THE YEAR ENDED 31[st] DECEMBER 2021

Contents Page
Legal and administrative information
Report of the trustees 1-3
Report of the independent examiner 4
Statement of Financial Activities 5
Balance sheet 6
Notes to the Financial Statements 7-12
Report of Chair of PCC for 2021 13-15

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

LEGAL AND ADMINISTRATIVE INFORMATION

Parish Church Council at 31[st] December 2021

Charity office

Independent Examiner

Revd Dr Emmanuel Adeloye - chair Mrs Patricia Williams Mrs Delorine Green Mrs Maria Gabriel Mrs Ethel Adu-Offeh Mrs Elaine Taylor Trevor Drayton Ms Althea Smith Mrs Janet Helder Miss Linda Smith Oliver Igbokwe Miss Winifred Jordan Leroy Scott Mrs Rosemary Hill 10a Meeting House Lane London SE15 2UN David Barber Jubilee House 10 Moat Sole Sandwich CT13 9AU

2021 MEMBERS OF PCC

Betty-Ann Stultz James Olanipekun Linda Smith Percy Oguery Musu Theresa Dyfan Timi Agada Rebecca Akintaro Maria Gabriel Janet Helder Donna Mortley Chukwuemeka Ben Nzewi Sami Adeola Winifred Jordan Sharon Gabriel Rosemary Hill Althea Smith

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

REPORT OF THE TRUSTEES

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ending 31[st] December 2021. The financial statements comply with the Charities Act 2011, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015).

TRUSTEES

The trustees named on page 1 have served throughout the year. Appointment of trustees is governed by the Trust Deed of the charity. The Board of Trustees is authorised to appoint new trustees to fill vacancies arising through resignation or death of an existing trustee. New trustees undergo an orientation day to brief them on: their legal obligations under charity law, the Charity Commission guidance on public benefit, and inform them of the content of the governing document and decision-making processes, the business plan and recent financial performance of the charity. During the induction day they meet key employees and other trustees.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Parochial Church Council is formed under the Church of England Assembly (Powers) Act 1919 and Parochial Church Council (Powers) Measure 1956 as amended and is currently regulated by Church Representation Rules Schedule 3 of the Synodical Government Measure 1969 as amended

OBJECTS OF THE CHARITY

The charity has the responsibility of co-operating with the incumbent in promoting, in the ecclesiastical parish, the whole mission of the Church, pastoral, evangelistic, social and ecumenical. It also has maintenance responsibilities for the church buildings

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

REPORT OF THE TRUSTEES - continued

RISK REVIEW

The trustees conduct periodic reviews of the major risks to which the charity is exposed and systems and procedures to manage those risks identified are implemented so as to minimise any potential impact on the charity should any of those risks materialise.

RESERVES POLICY

The trustees consider the current level of reserves is sufficient to cover eventualities as they arise.

PUBLIC BENEFIT

The charity acknowledges its requirement to demonstrate clearly that it must have charitable purposes or 'aims' that are for the public benefit. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the charity should undertake.

PRINCIPAL OBJECTIVES AND ACTIVITIES

The objects of the charity are promoting in the Parish the whole mission of the Church.

ACHIEVEMENTS AND PERFORMANCE

Please see page 13 - Report of Chair of PCC

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

REPORT OF THE TRUSTEES – continued

Financial Review

Total income in the year was £75,848 (2020 £79,189) and total expenditure £54,939 (2020 £65,436). The charity has sufficient funds to meet its ongoing obligations.

Parochial Church Council’s Responsibilities

The law applicable to charities in England and Wales requires the Parochial Church Council to prepare financial statements for each financial year, which give a true and fair view of the church’s financial activities during the year and of its financial position at the end of the year. In preparing those financial statements the Parochial Church Council is required to:

(a) select suitable accounting policies and apply them consistently;

(b) observe the method and principles in the Charities SORP

(c) make judgements and estimates that are reasonable and prudent; (d) prepare the financial statements on a going concern basis unless it is inappropriate to assume that the charity will continue in business; and (e)state whether applicable accounting standards and statements of recommended practice have been followed subject to any material departures disclosed and explained in the financial statements. The Parochial Church Council has overall responsibility for ensuring that the church has appropriate systems of control, financial or otherwise. They are also responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the church and which enable them to ensure that the financial statements comply with the Charities Act 2011, they are also responsible for safeguarding the assets of the church and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval This report was approved by the trustees on 21[st] November 2022

Revd Dr Emmanuel Adeloye – Chair of PCC

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

REPORT OF THE INDEPENDENT EXAMINER TO THE PCC

I report on the accounts for the year ended 31[st] December 2021, which are set out on pages 5 to 12.

Respective responsibilities of trustees and examiner

As members of the PCC you are responsible for the preparation of the accounts and you consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required.

It is my responsibility to:

BASIS OF THE INDEPENDENT EXAMINER’S STATEMENT

My examination was carried out in accordance with the general Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

INDEPENDENT EXAMINER’S STATEMENT

In connection with my examination, no matter has come to my attention:

have not been met or

Independent Examiner:

David Barber

David Barber, Jubilee House, 10 Moat Sole, Sandwich, Kent CT13 9AU

Date: 21[st] November 2022

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

STATEMENT OF FINANCIAL ACTIVITIES – YEAR ENDED 31[st] DECEMBER 2021

----- Start of picture text -----
Notes Unrestricted Restricted Endowment
Funds Funds Funds 2021 2020
£ £ £ £ £
INCOMING
RESOURCES
Voluntary income 2 22,922 0 0 22,922 23,474
Activities for
generating funds 3 0 0 0 0 0
Church activities 4 0 0 0 0 227
Investment income 5 38,550 0 0 38,550 41,989
Other incoming
resources 6 14,376 0 0 14,376 13,499
TOTAL 75,848 75,848 79,189
RESOURCES Notes Unrestricted Restricted Endowment 2021 2020
EXPENDED Funds Funds Funds £ £
Fundraising
trading costs 7 0 0 0 0 0
Church activities 8 52,231 0 0 52,231 62,114
Governance costs 9 2,708 0 0 2,708 3,322
TOTAL 54,939 0 0 54,939 65,436
NET INCOMING
RESOURCES 20,909 0 0 20,909 13,753
Gain (Loss) on
revaluation of 17 0 0 33,071 33,071 12,359
investments
Church renovations 20 0 0 0 0 -782,076
NET MOVEMENT IN FUNDS 20,909 0 33,071 53,980 -755,964
Transfer of funds 19 0 0 0 0 0
Brought forward from previous 376,212 4,200 191,336 571,750 1,327,714
year
Total funds carried forward 397,121 4,200 224,407 625,730 571,750
----- End of picture text -----

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

BALANCE SHEET AS AT 31[st] DECEMBER 2021

Notes
FIXED ASSETS
Tangible assets
11
Investments
12
TOTAL FIXED ASSETS
CURRENT ASSETS
Debtors
13
Cash at bank and in hand
14
TOTAL CURRENT ASSETS
CREDITORS– amounts falling due within
one year:
Creditors
15
TOTAL CREDITORS
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
FUNDS
16
General unrestricted
Restricted funds
Endowment funds
2021
2020
£
£
0
318
571,911
538,859
571,911
539,177
4,141
0
51,188
33,287
55,329
33,287
1,510
714
1,510
714
53,819
32,573
625,730
571,750
430,194
376,214
4,200
4,200
191,336
191,336
625,730
571,750

Approved by the Parochial Church Council on 21[st] November 2022 Signed on behalf of the Parochial Church Council by:

Revd Dr Emmanuel Adeloye – Chair of PCC

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

NOTES TO THE FINANCIAL STATEMENTS – 31[st] DECEMBER 2021

BASIS OF ACCOUNTING

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)', The financial statements have been prepared under the historical cost convention.

1 ACCOUNTING POLICIES

FUNDS

General funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. (These include funds designated for a particular purpose by the PCC). The purpose of any restricted funds is noted in the accounts.

The accounts include transactions, assets and liabilities for which the PCC can be held responsible. They do not include the accounts of Church Groups that own an affiliation to another body nor those that are informal gatherings of Church members.

INCOME

Voluntary income and capital sources

Collections are recognised when made.

Amounts receivable under covenant are recognised only when honoured by the covenanter. Income tax recoverable on covenanted or Gift Aided donations is recognised when claimable. Grants and legacies are accounted for as soon as the PCC is legally entitled to the amount due.

Funds raised by the fete and similar events are accounted for gross. Other ordinary income

Rental income from letting of Church premises is accounted for when earned. Parochial fees of the PCC for weddings, funerals etc are accounted for when received. Investment income

Dividends and interest are accounted for when due. Tax recoverable on such income is accrued for on the same basis.

APPLICATION OF RESOURCES

Grants

Grants and donations are accounted for when paid.

The Diocesan quota is accounted for when payable and quota unpaid at 31[st] December 2021 is shown as a creditor on the Balance Sheet.

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

NOTES TO THE FINANCIAL STATEMENTS – 31[st] DECEMBER 2021 - continued

FIXED ASSETS

Consecrated land and buildings and movable Church furnishings.

Consecrated and beneficed property is excluded from the accounts by section 10(2)(c) of the Charities Act 2011.

No value is placed on movable Church furnishings held by the Churchwardens on special trust for the PCC and which require a faculty for disposal since the PCC considers this to be inalienable property. All expenditure incurred during the year on consecrated or beneficed buildings and movable Church furnishings, whether maintenance or improvement is written off.

Tangible assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided so as to write off the cost of an asset, less any estimated residual value, over the useful life of that asset as follows:

Office equipment 20% straight line method; Church renovations 0%

CURRENT ASSETS

Amounts owing to the PCC is respect of fees, rents or other income are shown as debtors less any provision for amounts that may prove unrecoverable.

2 Voluntary income

Planned giving
Tax recoverable
Grants and gifts
Collections
Donations and appeals
Unrestricted
Funds
£
15,802
0
0
6,649
471
Restricted
Funds
£
0
0
0
0
0

Endowment
Funds
£
0
0
0
0
0

Total
2021
£

15,802

0

0

6,649
471
Total
2020
£
13,806
941
0
8,727
0
22,922 0 0 22,922 23,474
3 Activities for generating funds
Fundraising events
0
0
4 Church activities
Other
0
0
3 Activities for generating funds
Fundraising events
0
0
4 Church activities
Other
0
0
0 0 0 0

Fundraising events
4 Church activities
Other
0
0
0 0 0 0
0 0 0 227
0 0 0 0 227

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

5 Investment income

Unrestricted
Funds
£
Investment property
income
38,550
38,550
6 Other incoming resources
Legacy and grants
2,530
Interest received
79
Other
7,626
Gift Aid
4,141
14,376
7 Fund raising expenses
Cost of events
0
0
8 Church activities
Giving
3,389
Contribution to Diocese
25,000
Repairs and maintenance
4,452
Insurance
3,976
Gas, electricity, water
3,096
Telephone
364
Printing, post, stationery
0
Staff wages
5,192
Waste disposal
1,125
Depreciation
318
Church music
1,964
Bank charges
0
Other costs
3,355
51,549
9 Governance costs
Independent examiner’s
fees
550
Accountancy fees
2,158
2,708
Unrestricted
Funds
£
38,550
Unrestricted
Funds
£
38,550
Unrestricted
Funds
£
38,550
Restricted
Funds
£
0
Endowment
Funds
£
0
Total
2021
£
38,550
Total
2020
£
41,989
38,550 0 0 38,550 41,989
0
0
0
0
0
0
0
0
2,530
79
7,626
4,141
8,043
5,370
86
0

Legacy and grants
Interest received
Other
Gift Aid
7 Fund raising expenses
Cost of events
8 Church activities
Giving
Contribution to Diocese
Repairs and maintenance
Insurance
Gas, electricity, water
Telephone
Printing, post, stationery
Staff wages
Waste disposal
Depreciation
Church music
Bank charges
Other costs
9 Governance costs
Independent examiner’s
fees
Accountancy fees
14,376 0 0 14,376 13,499
0 0 0 0 0

Cost of events
8 Church activities
Giving
Contribution to Diocese
Repairs and maintenance
Insurance
Gas, electricity, water
Telephone
Printing, post, stationery
Staff wages
Waste disposal
Depreciation
Church music
Bank charges
Other costs
9 Governance costs
Independent examiner’s
fees
Accountancy fees
0 0 0 0 0

3,389
25,000
4,452
3,976
3,096
364
0
5,192
1,125
318
1,964
0
3,355
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
3,389
25,000
4,452
3,976
3,096
364
0
5,192
1,125
318
1,964
0
2,355
1,140
24,600
13,259
3,406
7,340
772
871
5,395
1,248
106
2,525
-50
1,502
51,549 0 0 51,549 62,114
550
2,158
0
0
0
0
550
2,158
550
2,772
2,708 0 0 2,708 3,322

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

NOTES TO THE FINANCIAL STATEMENTS – 31[st] DECEMBER 2021 - continued

10 Staff costs

Wages and salaries Unrestricted
Funds
£
5,792
Total
2021
£
5,792
Total
2020
£
5,394
5,792 5,792 5,394

10A Related Party Transactions.

Any amounts paid to PCC Members or to the Incumbent during the year are in reimbursement of expenses incurred solely on activities related to the Parish.

11 Tangible fixed assets

Cost
At 1stJanuary 2021
Additions
At 31stDecember 2021
Depreciation
At 1stJanuary 2021
Charge in the year
At 31stDecember 2021
Net book value
At 31stDecember 2021
At 31stDecember 2020
Church
renovations
£
Office
equipment
£
Total
£
0
5,105
5,105
0
0
0
5,105
5,105
0
4,787
4,787
0
318
318
0
5,105
5,105
0
0
0
0
318
318

In the year ending 31 December 2020 the amount of £782,076 representing improvements and renovations to the Church buildings was written off as Indicated in the SOFA dated 31 December 2020

12 Investments

Property Springall Street
Bruce McMurray
Memorial Fund
Unrestricted
Funds
£
380,576
0
Restricted
Funds
£
0
0
Endowment
Funds
£
0
191,335
Total
2021
£
380,576
191,335
Total
2020
£
347,524
191,335
280,576 0 191,335 571,911 538,859

11

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

NOTES TO THE FINANCIAL STATEMENTS – 31[st] DECEMBER 2021 - continued

----- Start of picture text -----
13 Debtors
Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2021 2020
£ £ £ £ £
Recoverable Gift Aid 4,141 0 0 4,141 0
----- End of picture text -----

4,141
0
0
4,141
0
14 Cash at bank and in hand
PCC Bank Account
11,159
4,200
0
15,359
5,429
Restoration Account
5,125
0
0
5,125
749
CBF – Deposit Fund
2,750
0
0
2,750
4,729
BM current account
CBF T1169137002465D
27,954
0
0
27,954
22,380
46,988
4,200
0
51,188
33,287
15 Creditors (due within one year)
Short term loan
0
0
0
0
0
Accruals
1.510
0
0
1.510
714
1.510
0
0
1,510
714
16 Analysis of net assets by fund
Fixed assets
0
0
0
0
318
Investments
380,576
0
191,335
571,911
538,859
Cash at bank
46,988
4,200
0
51,188
33,287
Debtors – gift aid
4,141
0
0
4,141
0
Creditors
-1,510
0
0
-1,510
-714
393,002
4,200
191,335
625,730
571,750
17 net gains (losses) on investments
Bruce McMurray Fund
0
0
33,071
33,071
12,359
0
0
33,071
33,071
12,359
4,141
0
0
4,141
0
4,141
0
0
4,141
0

Fixed assets
Investments
Cash at bank
Debtors – gift aid
Creditors
17 net gains (losses) on
393,002
4,200
191,335
625,730
571,750
investments
0
0
33,071
33,071
12,359

Bruce McMurray Fund
0
0
33,071
33,071
12,359

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THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

NOTES TO THE FINANCIAL STATEMENTS – 31[st] DECEMBER 2021continued

18 Funds
General or unrestricted
funds
Restricted funds
Endowment funds
Brought forward
Incoming
Resources
Resources
Expended
Revaluation
Carried forward
376,212
75,848
54,939
0
391,584
4,200
0
0
0
4,200
191,338
0
0
33,071
224,408
571,750
75,848
54,939
33,071
620,192

19 Transfer of Funds

There were no transfers of funds in the year. The balance of Endowment Funds carried forward at 31[st] December 2021 relates to the Bruce McMurray Fund.

13

THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF S. JOHN CHRYSOSTOM WITH S. ANDREW, PECKHAM

REPORT OF THE PROCEEDINGS OF THE PCC ACTIVITIES OF THE PARISH GENERALLY IN 2021.

We came out of the lockdowns to partial restrictions in the year. The Church resumed services in persons fully on site, holding two sessions at 9.00 am and 10.30 am on Sundays. Generally, the year 2021 fared better than the previous one with severe Covid-19 pandemic globally.

The PCC held her statutory meetings in 2021 were on the 7th of February (the one scheduled for 31st January was postponed), 11th April 27th June 26th September, and 12[th] December.

The Standing Committee was held twice on the 9th of May and the 29th of August respectively. We discussed issues that were of interest to the Church.

The PCC remained prudent in her expenses and was able to have some surplus, to maintain our facilities, despite the difficult year. The PCC is resolved in meeting all her responsibilities, including her Diocesan pledges which were paid as at when due. All other financial obligations were met.

Relevant inspections were carried out by the Acting Archdeacon, and the Church’s Architect respectively in the year. All our fabrics, ornaments, buildings were kept in good conditions and necessary repairs and maintenance works were carried out.

The two staff flats on the premises were well maintained and continued to be let out via Dexters Estate Agents who manage the flats and to whom the Church pays a monthly fee. The rent received from the flats brings in a much-needed income to St John’s.

The Church continued her work of witness via worship, evangelism and mission with new and ardent commitment. We hope to work hard to continue our work of mission and evangelism more vigorously in the years ahead. We are resolved to making our facilities available as we have done in the past. We will also engage our community in mission of service through worship, educational support to the local community. We continue to make the Church a place of welcome to all.

Our Diocesan pledges were paid as at when due. Other financial obligations were met, necessary repairs and maintenance works were carried out. The PCC was prudent in our expenses and was able to have some surplus.

SAFEGUARDING PRINCIPLES. 14 The PCC and this Church is committed to the safeguarding, care and nurture of everyone within our community. The PCC abides by the Church of England example and policy as shown here:

The Church of England will:

The Church Council has complied with its duty under section 5 of the Safeguarding and Clergy Discipline Measure 2016 to have due regard to the House of Bishop’s guidance on Safeguarding children and vulnerable adults.

CHARITIES

The Church supported some charities with donations to Mercy Ships, Barnabas Fund and Church Urban Fund during the year and will continue to do so as part of her social responsibilities.

CHURH HALL RENTAL

The Alpha Stars Early Years Nursery school which uses our Hall, closed towards the end of the year.

Ditto, the hall was not rented by outsiders for most part of the year because of the COVID-19 pandemic. These resulted in some reduction in our income.

Application by Big ‘N’ All Day Nursery and Pre-School to use the Hall is being considered by the PCC.

ACTIVITIES.

There was a School visit to the Church (Harris Academy, Peckham) during which the Vicar taught the children many things about the Church, including the significance of Christmas.

Our Patronal and Harvest celebration also took place with much funfair. The Boys’ and Girls’ Brigade continued their activities in the year.

Timi Igali. PCC Secretary.

Betty-Ann Stultz and James Olanipekun. Wardens.

Rev. Dr. Emmanuel Adeloye. Vicar.